Stonepeak eyes renewables projects in the Gulf: US-based infrastructure investor Stonepeak has launched WahajPeak, a new platform dedicated to developing renewable energy projects across the Middle East and North Africa, according to a statement. The USD 76 bn investor will target utility-scale solar, wind, and battery storage projects, with a focus on the Gulf.

Stonepeak tapped Jinko Power's former vice president Mothana Qteishat (LinkedIn) to lead the platform. Qteishat, who according to LinkedIn is based out of Dubai, has 17 years of experience in the region’s renewables sector, delivering more than 5 GW in solar capacity.

The launch comes after Stonepeak’s USD 1 bn investment agreement in May with the Arab Energy Fund to back energy infrastructure projects across the region. Stonepeak also opened offices in Abu Dhabi and Riyadh in the past two years as the firm expanded its presence.

Stonepeak has rolled out similar renewables-focused platforms in North America, Asia, and Europe, and currently has 10.4 GW of capacity in operation or development across solar, wind, and battery storage systems, the statement adds.

The bigger picture: Our region is on track to triple renewable energy capacity to 150 GW by 2030.

IN OTHER ENERGY NEWS-

UAE-based Global South Utilities (GSU) has started construction on a 50 MW solar power plant in Sakai, Central African Republic, Wam reports. The project is designed to supply clean electricity to more than 300k households and cut over 50k tons of CO2 emissions annually. The plant will also be equipped with a 10 MWh battery energy storage system to support grid stability and ensure uninterrupted power supply.

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